Southern Copper Co. (NYSE:SCCO - Get Free Report) Director Bonilla Luis Miguel Palomino sold 100 shares of the company's stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $110.20, for a total value of $11,020.00. Following the completion of the sale, the director now owns 4,914 shares of the company's stock, valued at $541,522.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Bonilla Luis Miguel Palomino also recently made the following trade(s):
- On Wednesday, March 13th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $87.10, for a total value of $8,710.00.
- On Monday, March 4th, Bonilla Luis Miguel Palomino sold 100 shares of Southern Copper stock. The stock was sold at an average price of $81.50, for a total value of $8,150.00.
Southern Copper Price Performance
Shares of NYSE:SCCO opened at $109.60 on Friday. The company's fifty day moving average is $89.61 and its two-hundred day moving average is $81.25. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper Co. has a 12-month low of $64.66 and a 12-month high of $112.35. The company has a market cap of $84.73 billion, a P/E ratio of 34.90 and a beta of 1.29.
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Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.15). Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Equities analysts expect that Southern Copper Co. will post 3.67 earnings per share for the current fiscal year.
Southern Copper Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 13th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper's dividend payout ratio (DPR) is presently 101.91%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. The Goldman Sachs Group upped their price target on Southern Copper from $61.00 to $82.00 and gave the company a "sell" rating in a report on Friday, March 22nd. StockNews.com cut Southern Copper from a "buy" rating to a "hold" rating in a report on Monday, February 5th. Jefferies Financial Group raised Southern Copper from a "hold" rating to a "buy" rating and upped their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. dropped their price target on Southern Copper from $63.50 to $61.00 and set an "underweight" rating on the stock in a report on Thursday, March 21st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $76.83.
Read Our Latest Analysis on Southern Copper
Hedge Funds Weigh In On Southern Copper
Hedge funds have recently modified their holdings of the stock. Fortis Group Advisors LLC increased its stake in shares of Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company's stock worth $26,000 after acquiring an additional 151 shares during the last quarter. Hartford Financial Management Inc. acquired a new position in shares of Southern Copper in the third quarter worth $25,000. Viking Fund Management LLC acquired a new position in shares of Southern Copper in the fourth quarter worth $31,000. Loomis Sayles & Co. L P bought a new stake in Southern Copper in the first quarter worth $29,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Southern Copper in the fourth quarter worth $27,000. 7.94% of the stock is owned by institutional investors and hedge funds.
About Southern Copper
(
Get Free Report)
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.
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